https://www.taxtmi.com/caselaws?id=309265 The Tribunal allowed the appeal of the assessee, directing the AO to delete the addition of Rs. 5,40,000 as unexplained investment in shares and the interest charged under sections 234B & C of the Income Tax Act. The Tribunal found that only the Long Term Capital Gain of Rs. 5,05,265 should have been added, not the entire sale consideration, and held that charging interest on the assessed income was contrary to law based on a judgment of the Hon'ble Jharkhand High Court. en-us Wed, 22 May 2019 00:00:00 +0530 Mon, 21 Aug 2023 22:13:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309265 The Tribunal allowed the appeal of the assessee, directing the AO to delete the addition of Rs. 5,40,000 as unexplained investment in shares and the interest charged under sections 234B & C of the Income Tax Act. The Tribunal found that only the Long Term Capital Gain of Rs. 5,05,265 should have been added, not the entire sale consideration, and held that charging interest on the assessed income was contrary to law based on a judgment of the Hon'ble Jharkhand High Court. Case-Laws Income Tax Wed, 22 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309265